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HOW MUCH LIFE INSURANCE?
By Chuck Wells
The sad fact is, many people
die each year “before their time.” The only question is whether
or not it will be you? If it is, will there be enough money left
behind by you to pay off loans, provide an income for those you
leave behind, and provide money for those you love to carry
through with their dreams? If you were here, would you do these
things for your family? If yes, you need to make sure you have
enough life insurance to provide the funds.
How much life insurance should you carry on yourself?
First, total up all of your debts (car, credit cards, mortgage,
etc.).
Then estimate how long your family would need your income to
live as they do now. That should be at least until your youngest
child is age 18. This is usually about 8 times your annual
income.
Add into these figures an amount you would like to leave your
children for college or other schooling expenses and money you
would like to leave to your favorite charity.
Total all of these amounts and subtract the amount of life
insurance you have now. That should be the amount you should
consider when applying for a life insurance policy.
Keep in mind that life insurance is very inexpensive now and
compared to what your family would lose, a very important part
of your planning.
If you say: “It’s their problem after I’m dead,” that is how you
will be remembered.
WOMEN WORSE AT PARKING THAN MEN?
A study of 500,000 claims by an insurance company revealed the
following:
- Women were twice as likely to have an accident in a
parking lot as men
- 23% more likely to hit a parked car
- 15%
more likely to reverse into a parked car
However, men have more serious accidents, make more costly
insurance claims, kill more pedestrians, and are responsible for
98% of serious convictions. Men, however, do not ask for
directions so they usually drive more miles than women.
BREAST ENLARGEMENT BY STOLEN
CREDIT CARD
An 18 year-old in Ohio was arrested for stealing his mother’s
credit card and charging $2,496 for the surgery to enlarge his
girlfriend’s breasts. The young man had already charged $2,100
in car repair bills to his mother. She closed that credit card
and he re-opened the account so he could charge the surgery.
Police said they usually confiscate items purchased fraudulently
but in this case they had their hands full.
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